uk tax on forex

does anybody know the answers to the following concerning tax in the uk on forex earnings:
is there any personel tax on earnings derived from forex trading, and at what rates?
is there any dividend tax on income derived from forex trading, and at what rate?
is there any corporate tax on earnings derived from forex trading,and at what rates?
if the earnings from forex trading are kept in the companies brokerage account, "not paid as dividends ect." are there any tax libilities?
if i reside in the u.s.a. but my company is in the uk. and i take a distributation, is there ant tax liabilities in the uk.

please dont direct me to other web sites, unless the answer is located in the url you direct me to as the ones i have been directed to so far have been useless so far. pleae dont direct me to the uk embassy as i have inquired but its taking a long time for them to respond, if they even intend to respond.

I think you would need to run your trading as a business and pay tax according to the type of company you were running, but I am not certain on this.

thanks for trying, but i need specific answers. does anyone know of links to uk government tax information?

Hi New2fx,

Not sure if this helps?

http://www.hmrc.gov.uk/manuals/bimmanual/BIM22017.htm


Cheers Doubletop.

yes it helped allot, it looks like ill get the answer to the questions.

thanks,again new2fx

There is a lot of information here:

http://www.trade2win.com/boards/forumdisplay.php?f=144

I am also interested in this as I'm in the UK

What did you find?? As far as I know there is no tax on FOREX. Please tell me I am wrong because i have not paid mine.....

If you are working in a job and trading forex part time then you have a capital gains tax (CGT) allowance of £9200 for this year for any income on investements including forex gains. So if you are making less then £9200 which is this years allowance then you don't have to pay tax.
If you are trading full time then this is treated as your sole income so you would pay tax on any earnings you make + national insurance.
Unless you are trading through a spread betting company as this is still treated as gambling which is tax free.

if you could get tax pros intersted, even if there`s a fee with email reply, it would be much better. thanks for trying, new2fx

as it seems that im not the only one intersted in this topic, ill post the reply`s i get from anywhere else if they are deemed reliable, as in a reply from the uk embassy, or a lawyer i made a inquiry too in the uk, or some other source.

thanks, new2fx